PETALING JAYA: Ranhill Holdings Bhd, a company with a focus on power and water, has executed a private-public partnership concession agreement to undertake a 10-million-litre-per-day wastewater treatment plant in Maoping Industrial Park in China.

The company said in a filing with Bursa Malaysia that the amount to be invested is 50 million yuan or RM31.5mil.

A subsidiary of Ranhill in China, Ranhill (Yongxin) Water Co Ltd, will undertake the design, construction and operation of the wastewater treatment plant for the Maoping Industrial Park.

According to the filing, the Yongxin County Industrial Development Zone Management Council has authorised Ranhill Yongxin to finance, design, construct and operate the plant and transfer it back to the designated parties by the end of the 29-year concession period.

Ranhill Yongxin, during the concession period, would have the right to collect wastewater service fees and the possession right and right to use the project land, the statement said.

“The board of directors is of the opinion that the undertaking of the project augurs well for the company’s expansion plan into the industrial wastewater business in China and is in the best interest of the company.

“Barring any unforeseen circumstances, the board is of the view that the project will contribute positively to the future earnings of the group,” it said.

The industrial park is located in Jiangxi Province.